Special to the Pinoy Reporter
May, 2009
By Alexander Borromeo, President
The Census 2010 is officially underway and it’s time for the Fil-Am community to stand up and be counted. Sure…that may sound a bit simplistic, but there is a lot at stake in terms of community funding levels and accurate representation in the political arena. That means the Census has a direct bearing on all businesses and a double impact on minority owned businesses.
The Fil-Am population was undercounted in Census 2000 and the US government completed a survey of Filipino-owned firms, and the numbers are impressive. On its website found at http://www.census.gov/econ/sbo/02/asiansof_filipino.html, the Census Bureau report states, “In 2002, there were over 125,000 Filipino-owned firms in the U.S., employing nearly 132,000 workers, and generating nearly $14.2 billion in revenue. These Filipino-owned firms accounted for 0.5 percent of all nonfarm businesses in the U.S., 0.1 percent of their employment, and 0.1 percent of their receipts. The number of Filipino-owned businesses grew 48 percent between 1997 and 2002, and the revenues grew 28 percent.” The businesses included in this report are those with at least 51% ownership by Fil-Ams.
When you begin to consider the economic impact of the Fil-Am business and community on the US economy, it is clear that being counted in the next Census is critical. The numbers reported in Census 2010 will play a critical role in decision making over the next 10 years. These decisions will directly impact the Filipino-American business community in a number of important ways.
When the US government injects money into the economy, the funding flows in various ways. Much of the funding is allotted to communities based on population statistics and the money is awarded as a grant. The money flows from the federal government to the state, city, or county, and then to local organizations, agencies, and businesses. Many times the grant funds have restrictions in them as to who is eligible to become the final recipient of the funds.
The Census 2010 is estimated to impact over 170 federal programs and over $300 billion of spending. The money is often distributed based on population statistics such as total population, minority population, low income population, and so on. For example, cities get Federal community block grant funds based on city population counts and income distribution numbers.
Fil-Am businesses stand to win a lot in the federal funding assistance programs, but only if Fil-Ams make sure they are counted. On the other hand, if Fil-Ams are undercounted, the impact is severe on all levels including losing access to funding. Federal grant dollars given to local communities are essential for many reasons.
· Matching funds for business loans
· Matching funds for new community projects
· Special grants for area-specific needs
· Minority business funding grants
· Determines Congressional representation numbers
· Housing development funds and government backed mortgages
· Income based loans and grants
· Job training grants
The Fil-Am community should fully participate in the Census 2010 for two overriding reasons. The first reason is that accurate counts at the city and state level will generate local funding which Fil-Am businesses can benefit from through grants, loans, and new business generated by a thriving and healthy economy. The second reason is to insure Fil-Am businesses fully participate in funding dedicated to Asian-American or minority owned businesses.
In other words, by being counted in the Census 2010, Fil-Am businesses can leverage their success. The population figures will lead to more area job development, business support, increased commercial activity, low interest loans and so on. It is estimated that every 100 people counted equates to $1 million in federal funding over a 10 year period.
So every Fil-Am business and community member should view the Census 2010 as an opportunity to leverage success, influence, and power.